{"id":140412,"date":"2024-11-26T23:34:13","date_gmt":"2024-11-26T22:34:13","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/cbn-raises-nigerias-interest-rate"},"modified":"2024-11-27T00:37:34","modified_gmt":"2024-11-26T23:37:34","slug":"cbn-raises-nigerias-interest-rate","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-raises-nigerias-interest-rate","title":{"rendered":"CBN raises Nigeria\u2019s interest rate"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Central Bank of Nigeria\u2019s Monetary Policy Committee has raised the country\u2019s interest rate by 25 basis points to 27.50 percent in November from 27.25 percent in September 2024.<\/p>\n<p>The Governor of CBN, Olayemi Cardoso, disclosed this during a press conference on Tuesday after the 298th MPC meeting in Abuja.<\/p>\n<p>\u201cThe Committee was unanimous in its agreement to raise the monetary policy rate by 25 basis points to 27.50 percent,\u201d he said.<\/p>\n<p>According to him, the decision to raise the country\u2019s monetary policy rate is to tackle inflation, which stood at 33.87 percent in October 2024.<\/p>\n<p>This is the sixth time the apex bank has raised the interest rate since February 2024.<\/p>\n<p>He also announced that the Cash Reserve Ratio (CRR) was retained at 50 basis points.<\/p>\n<p>In addition, the committee retains the liquidity ratio (LR) at 30 percent and the asymmetric corridor at +500\/-100 basis points around the MPR.<\/p>\n<p>Similarly, other monetary policy decisions were retained.<\/p>\n<p>Recall that in September, it raised the country\u2019s interest rate by 50 basis points to 27.25 percent.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Central Bank of Nigeria\u2019s Monetary Policy Committee has raised the country\u2019s interest rate by 25 basis points to 27.50 percent in November from 27.25 percent in September 2024. The Governor of CBN, Olayemi Cardoso, disclosed this during a press conference on Tuesday after the 298th MPC meeting in Abuja. \u201cThe Committee [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":140410,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1578,503,254],"class_list":["post-140412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-breaking","tag-cbn","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBN raises Nigeria\u2019s interest rate - Nigeria<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria\u2019s Monetary Policy Committee has raised the country\u2019s interest rate by 25 basis points to 27. ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-raises-nigerias-interest-rate\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN raises Nigeria\u2019s interest rate\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria\u2019s Monetary Policy Committee has raised the country\u2019s interest rate by 25 basis points to 27. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-raises-nigerias-interest-rate\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-26T22:34:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-26T23:37:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732651635.112128.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-raises-nigerias-interest-rate#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-raises-nigerias-interest-rate\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBN raises Nigeria\u2019s interest rate\",\"datePublished\":\"2024-11-26T22:34:13+00:00\",\"dateModified\":\"2024-11-26T23:37:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-raises-nigerias-interest-rate\"},\"wordCount\":183,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-raises-nigerias-interest-rate#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732651635.112128.jpg\",\"keywords\":[\"breaking\",\"CBN\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-raises-nigerias-interest-rate#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-raises-nigerias-interest-rate\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-raises-nigerias-interest-rate\",\"name\":\"CBN raises Nigeria\u2019s interest rate - 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